Azeri Oil Production Rises in 2013 as BP Stabilizes ACG Output

Jan. 17 (Bloomberg) -- Azerbaijan’s crude production rose
in 2013 for the first time in three years as a BP Plc-led group
stabilized output at the country’s largest deposit.

The Caspian Sea nation pumped 43.1 million metric tons of
oil last year, up 0.2 percent, according to data published today
on the website of the State Statistics Committee. Production of
marketable natural gas rose to 17.9 billion cubic meters from
17.2 billion cubic meters a year earlier.

Supply had been on the decline after peaking at 50.1
million tons in 2010 as the Azeri-Chirag-Guneshli field cut
output. BP replaced regional managers and brought in advisers
from abroad after Azeri President Ilham Aliyev accused it of
“grave mistakes.” The former Soviet republic offers the only
route for Caspian oil and gas to Europe bypassing Russia.

ACG delivered 16.4 million tons of oil in the first half of
2013, down 2.4 percent, London-based BP said in October. That
compared with a 12 percent drop a year earlier.